CEO Transition Process™
Chief Executive Officers hold the most critical and influential roles in every institution. They hold sway over the lives and fortunes of everyone associated with the company, and sometimes their decisions affect entire communities and industries. The most highly compensated individuals in the company, in the United States, a CEO’s average total cash compensation is more than a million dollars annually. Yet, the average tenure of a CEO is just five years. That means that when an organization loses its CEO, the cost of replacing that person soars into the tens of millions of dollars in new search costs, loss of key talent, productivity, and stock value.
The Henman CEO Transition Process ™ helps boards of directors choose the best CEO and make the transition seamless by doing the following:
- Assessing the organization’s strategy, culture, and leadership team
- Determining what kind of CEO will be a good cultural fit—one who supports the company’s strategy.
- Crafting the message about the transition
- Facilitating mentoring from the exiting CEO
- Eliminating confusion about who is in charge
- Clarifying the board’s expectations and performance criteria
- Identifying critical relationships
- Executing change initiatives
Ten years ago, the average CEO’s tenure was twice as long as it is today. The stakes were high then; they’re even higher now. The Henman CEO Transition Process ™ is your insurance policy that the CEO will succeed.
